Main Street Financial Solutions LLC Has $1.54 Million Position in CDW Co. (NASDAQ:CDW)

Main Street Financial Solutions LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,809 shares of the information technology services provider’s stock after selling 65 shares during the period. Main Street Financial Solutions LLC’s holdings in CDW were worth $1,541,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CDW. Acadian Asset Management LLC lifted its position in CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after acquiring an additional 30,012 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in CDW in the 2nd quarter valued at $2,854,000. M&G Plc bought a new stake in CDW during the 1st quarter worth about $8,528,000. Virtu Financial LLC boosted its stake in shares of CDW by 175.9% during the 1st quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after buying an additional 4,536 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of CDW by 71.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 8,075 shares of the information technology services provider’s stock valued at $2,065,000 after acquiring an additional 3,365 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Down 3.1 %

CDW stock opened at $186.01 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a fifty-two week low of $185.70 and a fifty-two week high of $263.37. The stock’s 50 day simple moving average is $214.86 and its 200 day simple moving average is $220.81. The company has a market cap of $24.79 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 5.35 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts expect that CDW Co. will post 9.05 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is 30.32%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDW. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $246.71.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.